Explore the concept of a basket of goods used to measure consumer price index (CPI) and inflation, detailing how it reflects consumer spending patterns and the complexity of its calculation.
Explore the definition, uses, and historical context of the Retail Price Index (RPI) in the UK, and how it differs from the Consumer Price Index (CPI).
Explore the nuances of the GNP Deflator, its differences from the GDP Deflator, and how it measures inflation across an economy, with a succinct and engaging guide.